As the Sunshine Coast continues to grow in popularity, it’s essential to understand how housing prices, rental costs, and market trends compare to the rest of Queensland. Drawing from the latest data compiled by .id–informed, this article breaks down the current housing landscape, ensuring an unbiased perspective on both the opportunities and challenges within this vibrant region. It’s important to note that this analysis focuses on data from the Sunshine Coast Council region and does not include the Noosa Council area. 

The housing market on the Sunshine Coast has shown remarkable growth over the last five years. As of June 2024, the median house price on the Sunshine Coast sits at $1,075,000, which represents a significant increase compared to Regional Queensland’s median of $640,000. Entry-level homes on the Sunshine Coast start around $870,000, while upper-tier properties can reach $1.4 million.

For those considering units, the Sunshine Coast remains a more affordable option than houses, with median prices at $730,000 and entry-level units starting at $620,000. The upper-end units, however, still reach up to $910,000.

Over the past five years, median house prices on the Sunshine Coast have grown by an average of 12.3% per annum, outpacing the 7.3% per annum growth in Regional Queensland. Unit prices have also shown robust growth, averaging 12.0% per annum compared to 10.1% per annum in Regional Queensland.

Renting on the Sunshine Coast has become increasingly expensive, with median weekly rents for houses reaching $750 as of June 2024. Entry-level house rents are around $660 per week, with upper-level properties commanding up to $850 per week. This trend is reflective of the Sunshine Coast’s growing demand for housing, as more people relocate to the region for its lifestyle offerings.

For units, the median rent is slightly lower at $610 per week, with entry-level units renting for around $550 and upper-end units going for up to $680. While these rental prices may be lower than houses, they still reflect the strong rental demand on the Sunshine Coast.

In comparison, Regional Queensland’s median house rent is $640 per week, making the Sunshine Coast slightly more expensive. Over the last five years, house rents on the Sunshine Coast have grown by 8.4% per annum, slightly lower than Regional Queensland’s 10.4%. Unit rents have increased by 9.1% per annum on the Sunshine Coast, compared to a 11.4% increase in Regional Queensland.

When considering housing affordability, household income plays a critical role. The Sunshine Coast’s median weekly household income has steadily increased over time, reflecting the region’s growing economic prosperity. However, housing stress remains a concern, particularly for lower-income households.

Households on the Sunshine Coast span a range of income brackets, with 10.8% classified as very low-income, 23.0% as low-income, and 35.1% falling into the high and very high-income categories. These figures highlight the growing disparity between housing costs and income levels, making housing affordability a key issue, particularly for workers in lower income brackets.

Conclusion: A Balanced Perspective

The Sunshine Coast’s housing market continues to see strong growth, with both home prices and rents increasing over the past five years. While this presents attractive opportunities for investors and homeowners, it also highlights the challenges of housing affordability for many residents. Lower-income households, in particular, may face difficulties entering the market or securing affordable rental options.

For potential buyers or investors, the Sunshine Coast remains a strong market with solid growth prospects, especially for those looking to capitalise on the region’s growing popularity. However, for renters and lower-income earners, finding affordable housing may require careful planning and consideration.

If you’re considering buying property on the Sunshine Coast or want more insights into the local market, contact us at The Property Baron. Our team of experienced buyers agents is here to guide you through every step of the process, ensuring you make informed decisions that suit your needs and goals.

Sources:

• .id Community Demographic Resources
• ABS Census of Population and Housing, 2021
• PropTrack Pty Ltd (ABN 43 127 386 298)
• image: @dronepick